Bitcoin's performance has outpaced the S&P 500, with increasing demand and adoption worldwide.

From Nasdaq: 2024-06-05 08:27:00

Bitcoin has been the best-performing asset over the past decade, surging 17,355.7% compared to the S&P 500 Index ETF’s 223.3% increase. With supply becoming more constrained post halving, demand for Bitcoin has surged, fueled by the launch of several spot Bitcoin ETFs in the U.S.

Governments and companies are adopting a “Bitcoin standard,” with El Salvador’s President buying Bitcoin for the country and making it legal tender. Software firm MicroStrategy became the first publicly traded company to adopt Bitcoin as a reserve asset, resulting in a more than 1,000% increase in shares over the past five years.

With governments engaging in reckless spending, investors are turning to Bitcoin as a hedge against inflation due to its fixed supply and built-in monetary policy. Bitcoin is emerging from a multi-year base structure and is expected to surpass $100,000 by year-end.

Both Joe Biden and Donald Trump are working to court crypto voters by adopting more pro-crypto stances. Zacks Investment Ideas feature highlights S&P 500 Index ETF SPY, Riot Platforms RIOT, BlackRock BLK, iShares Bitcoin ETF IBIT, Coinbase COIN and MicroStrategy MSTR as top stocks to watch.

Read more at Nasdaq: Zacks Investment Ideas feature highlights: SPY, Riot Platforms, BlackRock, IBIT, Coinbase and MicroStrategy